Fastener Cartel Tacked With €328.6M Fine

Law360, New York (September 19, 2007, 12:00 AM EDT) -- The European Commission attached €328.6 million in fines to some of the world's largest haberdashery product manufacturers on Wednesday for their alleged participation in illegal cartels in market for zip and other fasteners.

Altogether, the commission named seven participants in the international cartel - William Prym GmbH & Co., Coats Holdings Ltd., YKK Group, Scovill Inc., A Raymond Group, Berning & Söhne GmbH Co KG and German trade association Fachverband Verbindungs-und Befestigungstechni (VBT).

In November 2001, the EC conducted several surprise inspections at the premises of...
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